Almanack Investment Partners LLC. Grows Position in Meta Platforms, Inc. (NASDAQ:META)

Almanack Investment Partners LLC. raised its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,419 shares of the social networking company’s stock after purchasing an additional 248 shares during the quarter. Almanack Investment Partners LLC.’s holdings in Meta Platforms were worth $1,175,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Carlson Capital Management raised its stake in shares of Meta Platforms by 2.0% during the third quarter. Carlson Capital Management now owns 4,184 shares of the social networking company’s stock valued at $1,256,000 after acquiring an additional 84 shares in the last quarter. Rooted Wealth Advisors Inc. lifted its holdings in shares of Meta Platforms by 68.6% in the 3rd quarter. Rooted Wealth Advisors Inc. now owns 1,861 shares of the social networking company’s stock worth $559,000 after buying an additional 757 shares during the period. Braun Stacey Associates Inc. grew its position in shares of Meta Platforms by 20.0% during the 3rd quarter. Braun Stacey Associates Inc. now owns 131,661 shares of the social networking company’s stock worth $39,526,000 after buying an additional 21,959 shares in the last quarter. Comerica Bank purchased a new position in shares of Meta Platforms during the third quarter valued at $134,513,000. Finally, Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $265,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 8,727 shares of Meta Platforms stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $528.87, for a total value of $4,615,448.49. Following the completion of the transaction, the chief executive officer now owns 178,099 shares in the company, valued at approximately $94,191,218.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 8,727 shares of Meta Platforms stock in a transaction on Friday, July 5th. The shares were sold at an average price of $528.87, for a total value of $4,615,448.49. Following the sale, the chief executive officer now owns 178,099 shares of the company’s stock, valued at approximately $94,191,218.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the transaction, the chief technology officer now owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders have sold a total of 260,047 shares of company stock valued at $127,838,805 in the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 2.0 %

Meta Platforms stock opened at $529.32 on Tuesday. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.40 and a beta of 1.21. The business’s 50-day moving average price is $486.29 and its 200 day moving average price is $462.92. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.15 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Analysts Set New Price Targets

Several research analysts have issued reports on META shares. Truist Financial dropped their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Roth Mkm lifted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday, July 1st. Finally, Sanford C. Bernstein reduced their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.88.

Read Our Latest Research Report on Meta Platforms

About Meta Platforms

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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